Stop Loss Query

[KCD]

What are the rules on hitting a stop loss? I've had a couple of occasions where the price has got to less than 1 point and I've been stopped out. I was under the impression the limit would have to be touched or passed for it to be activated, and not to be within say 1 point. My stop loss was supposedly hit at 0828 with a price of 75.21 (where my cursor is) the period high is shown as 75.21 but you can clearly see the price didn't reach it. Any thoughts please?

[OfentseIG]

2 hours ago, KCD said:

What are the rules on hitting a stop loss? I've had a couple of occasions where the price has got to less than 1 point and I've been stopped out. I was under the impression the limit would have to be touched or passed for it to be activated, and not to be within say 1 point. My stop loss was supposedly hit at 0828 with a price of 75.21 (where my cursor is) the period high is shown as 75.21 but you can clearly see the price didn't reach it. Any thoughts please?

Hi @KCD

Thanks for reaching out.

As you were holding a short position, you would need to look at the Ask/Buy price on the chart. Looking at your screenshot you are viewing the Mid Price. You can change the Price setting by right clicking on the chart >> Price >>Ask. Your stop triggered due to the Ask price reaching your stop level and closing your position at a slippage of -0.03 

Slippage is when the price at which your order is executed does not match the price at which it was requested. This most generally happens in fast moving, highly volatile markets which are susceptible to quick and unexpected turns in a specific trend. I have attached a screenshot to shoe the Ask Price at 08:28

All the best, OfentseIG

[KCD]

Hi OfentseIG,

Thanks for a clear explanation and the prompt reply, will make a change.

Thanks again, KCD